Question: Question: how to design a desired mechanism g to implement social choice function Imagine that you want to sell an item. There are a bunch
Question: how to design a desired mechanism g to implement social choice function
Imagine that you want to sell an item. There are a bunch of prospective buyer agents. You want to sell it to the agent who wants it the most, but you cant trust them to tell you the truth. The problem can be formally modelled as follows:
atheta i in : types are the valuations.
b o in n: index of agent who gets the item.
c uiotheta itheta i if o i and otherwise.
Question: how to design a desired mechanism g to implement social choice function ftheta argmaxitheta imax and with the mechanism g telling the truth is the dominant strategy for all the agents? Hint: consider the Vickrey auction.
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